Genco Shipping & Trading (NYSE:GNK) had its price objective decreased by stock analysts at Morgan Stanley from $15.00 to $14.50 in a research note issued on Tuesday. The brokerage presently has an “equal weight” rating on the shipping company’s stock. Morgan Stanley’s target price suggests a potential downside of 8.75% from the stock’s previous close.

A number of other brokerages have also recently issued reports on GNK. ValuEngine raised shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Noble Financial initiated coverage on shares of Genco Shipping & Trading in a report on Friday, January 12th. They issued a “buy” rating and a $20.00 target price for the company. Deutsche Bank initiated coverage on shares of Genco Shipping & Trading in a report on Monday. They issued a “buy” rating and a $19.00 target price for the company. Finally, TheStreet raised shares of Genco Shipping & Trading from a “d” rating to a “c-” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Genco Shipping & Trading has an average rating of “Hold” and an average target price of $17.64.

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Genco Shipping & Trading stock traded up $0.09 during mid-day trading on Tuesday, reaching $15.89. The company had a trading volume of 24,777 shares, compared to its average volume of 118,775. Genco Shipping & Trading has a 1 year low of $8.47 and a 1 year high of $16.29. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.51. The stock has a market cap of $535.25, a PE ratio of -12.32 and a beta of -0.08.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Tuesday, February 27th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.10. Genco Shipping & Trading had a negative net margin of 28.00% and a negative return on equity of 4.49%. The company had revenue of $74.92 million during the quarter, compared to analysts’ expectations of $58.10 million. sell-side analysts forecast that Genco Shipping & Trading will post 0.61 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in GNK. Strategic Value Partners LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $135,404,000. Raynor Geoffrey boosted its holdings in shares of Genco Shipping & Trading by 1,704.8% in the 4th quarter. Raynor Geoffrey now owns 1,011,408 shares of the shipping company’s stock valued at $13,472,000 after purchasing an additional 955,369 shares during the last quarter. Jefferies Group LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $4,262,000. State Street Corp acquired a new position in shares of Genco Shipping & Trading in the 2nd quarter valued at $582,000. Finally, Two Sigma Investments LP acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $610,000. Institutional investors own 86.72% of the company’s stock.

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Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, such as commodities traders; producers; and government-owned entities.

Analyst Recommendations for Genco Shipping & Trading (NYSE:GNK)

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